PensionNewbee Posted April 7, 2003 Posted April 7, 2003 how is a multiple employer plan audited for ERISA purposes? Is it audited by participating employer over 100 or is it audite based on the total number of participants regardless of employer?
Archimage Posted April 7, 2003 Posted April 7, 2003 If memory serves me correctly, you would base the audit requirement on total number of participants regardless of employer. You will have one 5500 with X number of Sch. T's. The 5500 participant count will include all participants that are benefitted by the plan.
PensionNewbee Posted April 7, 2003 Author Posted April 7, 2003 RATS. Even if the companies are not related at all, but for the fact that they participate in a master trust?
Guest Kala Posted April 7, 2003 Posted April 7, 2003 I agree. You are counting PLAN participants, not employees. Does the 80-120 rule help you at all, or did they require a plan audit last year as well?
PensionNewbee Posted April 7, 2003 Author Posted April 7, 2003 it's a PEO trying to decide whether to become a multiple employer plan. It required an audit last year. Rats.
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now